NH Hoteles announced it will issue 16.37 million new shares at a minimum price of EUR 15.27, increasing its capital by around EUR 250 mln. The company will present the proposal to the CNMV, the Spanish national stock exchange commission, on December 28 for approval. The hotel chain did not disclose the intended use for the additional funds.
NH Hoteles announced it will issue 16.37 million new shares at a minimum price of EUR 15.27, increasing its capital by around EUR 250 mln. The company will present the proposal to the CNMV, the Spanish national stock exchange commission, on December 28 for approval. The hotel chain did not disclose the intended use for the additional funds.
On November 15 the hotel group signed an agreement with Joker Participazioni and Banca Intesa for the takeover of Jolly Hotels. Earlier this month, NH Hoteles said company would need to raise cash to finance this transaction.
NH Hoteles ranks third among the largest European business hotel groups. It currently operates 269 hotels in 19 countries in Europe, Latin America and Africa, and has another 25 new projects in the pipeline.
